Short Interest in The Gabelli Equity Trust Inc. (NYSE:GAB) Expands By 276.5%

The Gabelli Equity Trust Inc. (NYSE:GAB) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 845,300 shares, an increase of 276.5% from the February 28th total of 224,500 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 579,800 shares, the short-interest ratio is presently 1.5 days.

The Gabelli Equity Trust Trading Up 0.3 %

The Gabelli Equity Trust stock traded up $0.02 during mid-day trading on Thursday, hitting $5.55. 155,607 shares of the company’s stock were exchanged, compared to its average volume of 557,488. The Gabelli Equity Trust has a 1-year low of $5.09 and a 1-year high of $5.85. The stock has a 50 day moving average of $5.54 and a two-hundred day moving average of $5.52.

The Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.82%. The ex-dividend date of this dividend was Monday, March 17th.

Institutional Investors Weigh In On The Gabelli Equity Trust

A number of large investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its position in shares of The Gabelli Equity Trust by 3.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 163,220 shares of the financial services provider’s stock worth $896,000 after purchasing an additional 4,703 shares during the last quarter. Financial Counselors Inc. boosted its position in shares of The Gabelli Equity Trust by 374.5% in the third quarter. Financial Counselors Inc. now owns 54,395 shares of the financial services provider’s stock valued at $299,000 after acquiring an additional 42,931 shares during the period. HighTower Advisors LLC boosted its position in shares of The Gabelli Equity Trust by 13.3% in the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock valued at $462,000 after acquiring an additional 9,914 shares during the period. LRI Investments LLC bought a new position in The Gabelli Equity Trust during the third quarter worth $90,000. Finally, Executive Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the 3rd quarter valued at $82,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Company Profile

The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.